On August 19, 2020, Skyline Retail REIT, a privately-owned and managed portfolio of retail properties across Canada, announced the sale of a property located at 777 Sherbrook Street in Winnipeg, MB.
The property comprises 16,839 square feet of retail space and is tenanted by Shoppers Drug Mart. The total sale price for the property was $6.28M.
| Property Address | Tenants | Total Sq. Ft. | Sale Price |
|---|---|---|---|
| 777 Sherbrook Street | Shoppers Drug Mart | 16,839 | $6.28M |
777 Sherbrook Street, Winnipeg, MB was identified in Spring 2019 as a non-core asset that was appropriate for a strategic disposition, and was sold at a premium to the property’s purchase price, as well as its International Financial Reporting Standards (IFRS) value established in January 2020. Funds surfaced from the property’s sale will be used toward accretive property acquisitions
Post-disposition, Skyline Retail REIT comprises 109 properties in 66 communities in five provinces across Canada, with a total of 4,524,937 square feet of retail space.